1. Conditions exist, as defined by ORS 294.480, which require the City to prepare a major supplemental budget. In accordance with the provisions of ORS 294.480(6), the City submitted a proposed major supplemental budget in the amount of $80,500,826 to the Tax Supervising and Conservation Commission (TSCC) on November 19, 2007.

2. The TSCC held a public hearing on the proposed major supplemental budget on November 29, 2007.

3. Council agreed to make reductions in the proposed major supplemental budget of $3,822,233. The major supplemental budget now totals $76,678,593.

4. The City’s FY 2007-08 fall major supplemental budget must now be adopted by Council to become effective. In accordance with the attached exhibits, resources and requirements should be amended in eleven funds and appropriations should be made to implement the proposed projects and activities.

Section 2. The Council declares that an emergency exists because amendments to appropriations, resources, and requirements must be implemented without delay; therefore, this ordinance shall be in full force and effect from and after its passage by the Council.